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Bumble's New CEO Exits After Shares Dive 54% - Did Changing the Rules Cost Them?

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After just a year in the hot seat, Lidiane Jones is stepping down as CEO of Bumble Inc. The company announced on 17th January that Whitney Wolfe Herd, the founder and executive chair, will be making her grand return to the role in mid-March.

 

Wolfe Herd expressed deep gratitude for Jones' work, acknowledging her role in guiding Bumble during a pivotal period. She praised Jones for building a solid foundation for the future of the company.

 

But why the sudden exit? According to Bumble, Jones is leaving for “personal reasons” and will officially step down in March. Her short stint as CEO was filled with bold changes, some of which backfired. Under her leadership, Bumble revamped its app to alter how men and women initiate conversations (which previously had been designed with women making the “first move”). She also pushed for a controversial marketing campaign suggesting celibacy wasn't the answer to women's dating woes- a campaign that had to be swiftly pulled after backlash.

 

The company cut 37% of its workforce last year after stock prices crashed. The overhaul didn’t quite produce the desired results, and by August 2024, Bumble's stock had dropped another 54% following disappointing revenue reports.

 

But this isn't just about Jones' departure. Anu Subramanian, Bumble's CFO, and Selby Drummond, the CMO, also announced their exits in early 2025.

 

For Wolfe Herd, this marks a return to the helm. She founded Bumble at just 24 and led it for nine years. In 2021, she made history as the youngest woman to take a company public, becoming a self-made billionaire in the process. After stepping down from the CEO role in 2023, Wolfe Herd had expressed a desire to focus more on the big-picture vision, and now she's back to steer the ship once again.

 

"As I step into the role of CEO, I’m energized and fully committed to Bumble's success," Wolfe Herd said. " We have exciting innovation ahead in this bold new chapter."

 

It's clear- Bumble's bold journey continues, with its founder back in the driver's seat!

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